QEPC - QEP Completes Sale of United Kingdom Business | Benzinga
BOCA RATON, Fla., Oct. 10, 2023 (GLOBE NEWSWIRE) -- Q.E.P. CO., INC. (OTCQX:QEPC) (the "Company" or "QEP") today announced that, on October 4, 2023, it completed the sale of its business in the United Kingdom (the "UK Business") by selling all of the outstanding shares of Q.E.P. Co. U.K. Limited to QEP UK Holdings Limited led by Paul Boyce, in a transaction valued at approximately £12 million.
As a result of this transaction, the UK Business is now owned by the Boyce Family Group. Paul Boyce has been a member of QEP's management team for the past 14 years, having most recently served as its CEO of International Operations and a member of its Board of Directors. As part of this transaction, Mr. Boyce has resigned from his Board of Directors position as of the closing date.
Executive Chairman of QEP, Lewis Gould, stated, "The completion of this sale marks another milestone for QEP as we re-align our global footprint to efficiently implement our strategic plan of focusing on our core brands and products to drive ...